10 Essential Social Media Don’ts for Crypto and Blockchain Companies

Businesses across industries are investing a lot of time and resources into building and cultivating their social media presence because of the high potential for ROI. Social media marketing is a tool crypto and blockchain companies are quick to exploit – social media platforms offer a variety of audiences, pre-built communities and global reach.

Still, it’s all too easy to get things wrong on social media, and a poorly thought-out post can go viral (in a very bad way) in an instant and cause lasting damage to a brand. Below, 10 members of the Cointelegraph Innovation Circle discuss some social media practices that crypto and blockchain companies should avoid and why they are so problematic.

Don’t buy fake followers

Having a solid following on Twitter has been considered proof of a project’s potential. This has led many projects to buy thousands of fake followers so they can look more trustworthy. Investors now know about this practice and are checking engagement as well. Plus, by buying fake followers, you greatly reduce your reach – bots don’t engage, so it’s likely your real fans won’t see your posts. – Bogomil Stoev, Seasonal Tokens

Do not make misleading claims

Making false or misleading claims can undermine confidence in the cryptocurrency and blockchain industry, which can make it challenging to attract new investors, partners and engineers. It is crucial for businesses to communicate openly and honestly and think seriously about the information they post on social media. – Brad Spannbauer, Currency Hub

Don’t tag influencers to gain exposure

Don’t tag influencers unrelated to your project to get exposure – you’ll most likely get the opposite when they report your posts as spam and block you. Focus on quality, not quantity; your audience follows you to learn about you and what you do, not to see your ads and promotions. Use a social media professional, preferably in-house, to make sure you look like a pro. – Tomer Warschauer Nuni, Kryptomon

Don’t try to target too many audiences

One of the biggest mistakes crypto and blockchain companies make on social media is trying to target too many audiences. Often they leave the crypto and blockchain crowd and try to target a different industry. This leaves crypto supporters feeling forgotten and can create haters, and you may not only get any results – you may even get negative results that come back to bite you. – Brian D. Evans, BDE Ventures Ventures

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Don’t chase low-quality engagement

Web3 companies should avoid focusing on low-quality engagement. While “Like and Retweet” contests may temporarily boost your social media numbers, these new followers are likely to be airdrop hunters rather than long-term supporters. Instead, concentrate on promoting interesting content and activities that help start a conversation around your products. – Wolfgang Rückerl, ENT Technologies AG

Don’t randomly promote your project

Avoid promoting your project haphazardly on social media without considering the context, target audience and goal. Spamming posts and launching hashtag campaigns can be ineffective and alienate potential followers, investors and consumers. It is important to offer content that is adapted to your target group and reflects your company’s vision, values ​​and goals. – Theo Sastre-Garau, NFTaften

Don’t make inflated promises

Social media is often criticized for being a source of misinformation, and it is important for crypto companies to avoid contributing to the problem by making inflated promises. Rather, leaders in the space should seek to mainstream new, forward-looking technologies without enticing participants with unrealistic returns. Traders have enough to focus on without having to weed out financial fiction. – Oleksandr Lutskevych, CEX.IO

Don’t dangle a big prize just to get attention

Dangling a big prize that is almost impossible to win just to get people’s attention is not a good way to build trust. Instead, if you want to give something to people who sign up, make it something small that they have a high probability of winning in exchange for their time, as opposed to something that will certainly be perceived as fake bait. – Zain Jaffer, Zain Ventures

Don’t just use social media to pump your projects

Crypto companies should avoid pumping their projects. What you need to do is focus on providing value to social media communities by creating and posting content that will actually benefit them. For example, your posts should update your community on how your product will actually make their lives easier. When you provide value, others will share your content and praise you on their own. – Ayelet Noff, SlicedBrand

Do not overuse multiple channels

Web3 organizations should refrain from overusing multiple channels, as this can dilute and even separate their communities across many different platforms. Instead, choose some popular platforms in the Web3 space and create a community there. – Sheraz Ahmed, STORM Partners

This article was published through the Cointelegraph Innovation Circle, a researched organization of top executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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